In Billabong’s financial report today they announced the following: net profit of AUS$176.4 million, up from AUS$167.3 million a year ago.
Mr O’Neill said Billabong’s second half was a “highlight” as sales revenue in North America grew by 18.6 per cent, earnings in Europe rose by 20.8 per cent and Australasia recorded 19.8 per cent growth, in constant currency terms. . . . The Billabong CEO remained confident about fiscal 2009 and said good growth was evident in early forward orders in the US and Europe amid more moderate Australasian growth.
But the really big news was that Billabong announced that they were paying $99.9 million dollars for DaKine Hawaii.
Mr O’Neill said: “DaKine has built a strong sales base in North America and a growing sales base in several international territories, making it a powerful addition to the group.” . . . DaKine is expected to contribute approximately 4 per cent of group sales in fiscal 2009 and be earnings per share positive in year one.
Billabong really is dakine now, gobble, gobble, gobble. Kind of makes us wish we had something to sell them.
[Link: The Australian]
